31. Foreclosure Prevention Measures in Apex NC and the Rest of North Carolina

Foreclosure is when the mortgage loan doesn’t get paid back and the bank begins the process to take ownership of the property to recoup its losses.

If you find yourself entering the foreclosure process, you might wonder if there is anything you can do about it.

In this blog post, you’ll read about a few foreclosure prevention measures in Apex NC that you can take to keep your home from foreclosure.

Foreclosure prevention measures in Apex NC

These foreclosure prevention measures might not all work in your situation, but we’re telling you about them so you can make the decision for yourself:

1. Pay off your mortgage / sell your property. The quickest and easiest way to end the foreclosure process is to pay off your mortgage. After all, this is what all the banks want in the first place, so they would be happy to let you stay in your home and get their money back. Admittedly, this is not always possible, which is perhaps the reason that you’re in foreclosure in the first place.

2. Work out a deal with your bank. Sometimes, you can work out a deal with your bank where you sit down with a mortgage or foreclosure specialist and talk to them about changing the structure of your mortgage. Perhaps your payments get spread out so they are lower each month, for example. Just make sure that the deal works for you — you don’t want to just repeat the process.

3. Do a short sale. A short sale is when you sell your house in Apex to homebuyers in NC and use the proceeds of the sale to pay down or pay off your outstanding amount with the bank. This keeps a foreclosure from impacting your credit score and it gets the bank off your back!

4. Give your deed in lieu. Another option would be a deed-in-lieu-of-foreclosure, which basically means that you will hand over the deed to your house to the bank and they agree not to put you through foreclosure. This will often only work if your house is worth approximately the amount owing on the mortgage. If not, the bank may pursue the difference.

5. File for bankruptcy. In some ways, a bankruptcy is far more dramatic than a foreclosure because it impacts your whole life. However, once you file for bankruptcy, the foreclosure process has to stop, so it’s still a foreclosure prevention measure.

If you’re thinking, “I’m not sure which one to do; do I sell my house in Apex NC or opt for another way?” consider this: If you can afford payments and you want to stay in the house, then a foreclosure workout arrangement (#2) is probably your best option.

If you want to put everything behind you and move on with your life, then consider selling your home to us, Apex NC home buyers, and paying off your mortgage with that money. We offer cash for houses in Apex, NC.

Considering selling your North Carolina house?

We buy houses in NC for cash and would love to see if we can help you during your short sale. Contact us by filling out the form on this page and we’ll see if we can work with you.

Testimonials

My wife and I were living in a renovation that came to a halt due to our wonderful son coming into the world. We had received letters from The Inspiring Investment for years about wanting to buy but we assumed they were just like the other big names out there. After talking to local big name investors and being completely dissatisfied we opened another letter from Uriah and Katie.

I was very skeptical until they came over and met us. Such wonderful people! Uriah gave immediate fair cash offer at market value and was our buying agent to put us in a new house. We closed on a new house within 6 weeks and zero trouble closing at attorneys office.

I don’t know what else to say other than it was easier than I could’ve ever imagined, very fair offer and great people to do business with! They really go above and beyond for you.

Jeremy Tucker

Uriah was fantastic! He did everything he promised & more. We closed in 5 days with no strings or any unexpected issues. Highly recommend The Inspiring Investment!

Mark Fredericksen

Uriah is a very understanding and A caring person. I call him over a year ago about a house that over 25 people owned. A crazy story! Our grandmother died without a will making it very hard to sale. We had to go court and have a judge give us permission to sale the house. Uriah was very patient and understanding, he stayed in touch with me weekly through out this process. It has taken a year and half to get this house sold. Thank you so much ,we could not have done it without you. Very professional !

Linda Roberts

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